The income statement and balance sheet of All Wired, Inc., follows: Additionally, All Wired purchased land of
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The income statement and balance sheet of All Wired, Inc., follows:
Additionally, All Wired purchased land of $24,500 by financing it 100% with long-term notes payable during 2016. During the year, there were no sales of land or equipment, no additional issuances of notes payable, no retirements of stocks, and no treasury stock transactions.
Required:
(a) Prepare the 2016 statement of cash flows, formatting operating activities by the indirect method.
(b) Calculate the amount of dividends All Wired, Inc. paid using the information given.
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Related Book For
Understanding Financial Statements
ISBN: 9781292101552
11th Global Edition
Authors: Lyn Fraser, Aileen M. Ormiston
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